Generali Asset Management SPA SGR Makes New $20.41 Million Investment in Adobe Inc. (NASDAQ:ADBE)

Generali Asset Management SPA SGR bought a new position in Adobe Inc. (NASDAQ:ADBE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 45,894 shares of the software company’s stock, valued at approximately $20,408,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB grew its position in Adobe by 2.0% in the 4th quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock worth $765,094,000 after purchasing an additional 33,414 shares during the last quarter. Arizona State Retirement System grew its position in Adobe by 0.4% in the 4th quarter. Arizona State Retirement System now owns 127,696 shares of the software company’s stock worth $56,784,000 after purchasing an additional 570 shares during the last quarter. Public Sector Pension Investment Board grew its position in Adobe by 12.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company’s stock worth $10,005,000 after purchasing an additional 2,100 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in Adobe by 201.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company’s stock worth $60,779,000 after purchasing an additional 78,384 shares during the last quarter. Finally, Morse Asset Management Inc boosted its holdings in shares of Adobe by 33.0% in the third quarter. Morse Asset Management Inc now owns 8,519 shares of the software company’s stock valued at $4,411,000 after acquiring an additional 2,113 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

Shares of ADBE opened at $399.34 on Tuesday. The company has a market capitalization of $173.88 billion, a PE ratio of 32.20, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. Adobe Inc. has a one year low of $374.50 and a one year high of $587.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The company’s fifty day moving average price is $436.39 and its 200 day moving average price is $480.30.

Adobe (NASDAQ:ADBE) last announced its earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping the consensus estimate of $4.97 by $0.11. The firm had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same quarter last year, the firm posted $4.48 EPS. As a group, analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the transaction, the executive vice president now owns 18,334 shares in the company, valued at approximately $7,888,020.16. The trade was a 17.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the transaction, the chief accounting officer now owns 2,685 shares in the company, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,075 shares of company stock worth $2,191,826 in the last quarter. 0.16% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ADBE has been the subject of several recent analyst reports. Mizuho decreased their price objective on shares of Adobe from $620.00 to $575.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. UBS Group decreased their price objective on shares of Adobe from $475.00 to $460.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. BMO Capital Markets decreased their price objective on shares of Adobe from $515.00 to $495.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Morgan Stanley decreased their price objective on shares of Adobe from $660.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, JMP Securities reissued a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $540.60.

Adobe Profile

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.